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Existing-home sales plunge 7.2% as mortgage rates rise

By Zach Halaschak
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Existing-home sales plunge 7.2% as mortgage rates rise

Sales of existing homes tumbled last month as housing became less affordable across the country.

Existing-home sales declined by 7.2% in February to a seasonally adjusted annual rate of 6.02 million, according to a report by the National Association of Realtors released on Friday.

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Federal Reserve Housing Interest Rates mortgages Real Estate